Tenaris has signed a long-term lease agreement to expand its existing service and storage capacity at its Badentoy site in Portlethen. The new agreement will more than double Tenaris’ current storage capacity.
Additionally, despite the high increases driven by inflation and labour costs, Tenaris has signed a contract for ensuring continuity in the yard management and preparation for offshore services, which will follow Tenaris’ highest standards of safety and quality.
Commenting on both deals, Chris Langrill, Commercial Director, said: "This significant investment in the Aberdeen area brings much needed financial stability to the supply chain, de-risking our customers’ operations. In these uncertain times for the industry in the UK, we see value in constancy, whilst simultaneously supporting the local community. We remain confident that despite the uncertainties on policies and consequently on Capex level, Energy Operators will recognise the efforts in local presence that Tenaris is constantly making in U.K.”
Tenaris is the leading manufacturer of pipes and related services for the world's energy industry and certain other industrial applications. We also supply pipes and tubular components for low-carbon energy applications.